-77.97(-0.31%)

-3.08(-0.04%)

Asian Equities Extend Losses; Chip Makers Weigh

Investing.com – Asian equities continued to slip in afternoon trade on Friday after opening most lower with technology shares under pressure after Taiwan Semiconductor Co Ltd (TWO:5425) (TSMC), Apple’s main chip supplier, slumped as much as 7% after it trimmed its full year revenue target.

In China, the Shanghai Composite and Shenzhen Component fell 1.46% and 1.14% respectively by 1:08AM ET (05:08 GMT). Telecoms group ZTE Corp (HK:0763) called the U.S. ban on American companies selling parts to it “extremely unfair” on Friday, and said that it could not accept the decision. In a filing to the Hong Kong stock exchange on Friday, the company said it “will make active communications and seek legal channels to a solution.” Trade in ZTE shares has been suspended since Tuesday.

Reports that the U.S. Treasury Department is looking into possibilities of an emergency law to curb Chinese investments in sensitive technologies in the U.S. were said to weigh on the Chinese stocks on Friday.

Reports regarding the trade relations between the U.S. and China garnered some attention in the afternoon. China will retaliate if the U.S. insists on initiating a trade war, said China's ambassador to the United States on Friday.

Meanwhile, Japan’s Nikkei 225 eased 0.03% in afternoon session. Japan's March national CPI figures came in at 0.9%, down from the previous 1.0%.